Monday Exposes a Brittle Energy Sector

Markets were down in high-volume trading today, as shareholders sold off stocks due to weak Q1 earnings. The Dow fell -85.94 points over the course of the day in a slow, steady decline. The Dow ended the day at 18,105.17. The NASDAQ fell -0.20%, losing -9.98 points to close at 4,993.57. The S&P 500 was down as well, with -10.77 point losses, and closed at 2,105.33. In overseas trading, markets continued to rise in Asia and fall in Europe. The Nikkei rose 242 points on Monday.

The Energy Sector's Brittle Gains.  The energy sector couldn't hold onto the surge in share prices in the face of adversity today.
4 of the 5 biggest losers in real terms today were from the sector. Noble Energy (NBL) posted the biggest losses, falling -6.21% to close the day down -3.05 points at $46.07 per share. QEP Resources (QEP) lost -1.13 points to close at $20.46. Pioneer Natural Resources (PXD) and National Oilwell Varco (NOV) declined -6.07 and -1.90 points respectively. Pioneer closed at $152.99 and Varco ended at $51.33 per share today.

Netflix Beat the Tech Trend Today.  Netflix (NFLX) posted big gains on the day, shooting up 15.35 points over the course of a few hours. With this latest rise, some analysts are questioning whether or not the time is right to cash out -- but Netflix doesn't look set to fall anytime soon. At the end of the day, Netflix closed with a share price of $589.95.

The technology sector as a whole had a rougher ride today, with widespread losses and missed earnings reports weighing down share prices. Apple (AAPL) fell -1.30 points today, and closed at $126.32 per share. Google (GOOG) and Microsoft (MSFT) were both down as well. Even Amazon (AMZN), which has been remarkably solid, lost a little bit today, falling less than -0.20% to $432.85 per share.

Apache Down -4% Despite Solid Q1.  The company who makes the most popular internet server software on the planet, Apache (APA), posted big losses today despite posting better-than-expected Q1 earnings. Just like Tesla (TSLA), the company was expected to lose money -- and did -- but lost less than expected. That didn't seem to help Apache today, which is in a slump this week. The stock lost -2.41 points and closed down at $63.13 per share.

Monster Gains Back Ground After Friday's Selloff.  Energy drink manufacturer Monster (MNST) rebounded today after facing a big Friday selloff.  The company made back 4% after falling more than -10% in a big decline last week. Monster rose 5.53 points in trading today, and closed at $134.01 per share today.
Published on May 11, 2015
By Aaron Phillips
Aaron Phillips is a financial researcher and journalist based out of Michigan. He regularly writes the IG Daily and IG Weekly columns.

Copyrighted 2020. Content published with author's permission.

Posted in ...